Luna Company accepted credit cards in payment for $6,000 of services performed during July 2018. The credit
Question:
Luna Company accepted credit cards in payment for $6,000 of services performed during July 2018. The credit card company charged Luna a 4 percent service fee; it paid Luna as soon as it received the invoices.
Required
Based on this information alone, what is the amount of net income earned during the month of July?
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Credit card expense Sales 6000 x ...View the full answer
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Related Book For
Survey of Accounting
ISBN: 978-1259631122
5th edition
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor Yi Tsay
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